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Mortgage Market Update
My Mortgage Company
Dawn Palestini
Thursday, August 27, 2026
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How much equity are you sitting on? |
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Hi there — this week I want to talk about something many homeowners overlook: the equity they're quietly building with every payment.
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National Mortgage Rates · August 20, 2026
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Source: Freddie Mac PMMS & Optimal Blue via FRED
Rates shown are national averages and are provided for informational purposes only. Actual rates vary based on credit profile, loan amount, and market conditions. Please contact us for a personalized rate quote.
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Equity Building
Your home equity grows faster than you think
Every mortgage payment you make builds equity — the difference between what your home is worth and what you owe. Most borrowers don't realize how quickly this adds up, especially in the early years when you're paying down principal alongside interest. Over time, as you chip away at your loan balance and (in most markets) as your home appreciates, that equity becomes real wealth you can tap into later. Whether you're thinking about a renovation, consolidating debt, or planning ahead, understanding your equity position puts you in control. I'd love to run a quick analysis on your situation so you can see exactly where you stand. Let's take a look at your equity — reach out and we can discuss what options might make sense for you.
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Tip of the Week
Your mortgage interest may be tax-deductible if you itemize. Check with your tax professional to see if it benefits you.
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Tips for Homeowners
Understanding Mortgage Points
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1.
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One mortgage point equals 1% of your loan amount. Paying points ("buying down the rate") reduces your interest rate — typically 0.25% per point, though this varies by lender and market.
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2.
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Calculate your break-even: divide the cost of the points by your monthly savings. If it takes 4 years to break even and you plan to stay 10 years, buying points makes sense.
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3.
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Points paid on a home purchase are generally tax-deductible in the year paid (if you itemize). Points on a refinance must be deducted over the life of the loan.
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Have questions about how any of this affects your mortgage or home purchase? We're here to help — reach out to the My Mortgage Company team any time and we'll walk you through your options. |
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Your Mortgage Advisor
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My Mortgage Company
Dawn Palestini
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